Do you know who is talking about your brand and what they are saying? Consumers are constantly online via their smart devices and this constant connectivity has made them more vocal than ever before.
As always word of mouth is very influential but these days word of mouth is influencing decision-making just about everywhere. This is because people are connected to a higher degree than ever through social networks.
This shifts the balance of power towards consumers and it should be reflected in your marketing. When people are talking, you should at least be listening and preferentially be engaging them. You need the right set of tools to monitor this buzz so you’re able to respond to opportunities and threats and manage your brand reputation.
Visible Technologies, a social media monitoring company, conducted an audit of the online buzz for each of the top 100 brands over the last year. They created an “Earned Buzz Index”, weighted by positive mentions, and measured the amount of online fans. Not surprisingly, brands with more fans created more “Earned Buzz”.
“Earned buzz” and online fans are correlated with brand value which is a crucial finding. In other words, buzz means money and makes social and digital media vital to the health of succesful brands.
Also, brand value growth is significantly better if the buzz is beter. Last year, the top 10 “Earned Buzz” brands grew on average by 5 percent in value compared to an 8 percent decline for the bottom 10. The privilege of being talked about is one of the assets of an interesting and meaningful brand.